ITV has confirmed it is in preliminary discussions with Sky, owned by US media giant Comcast, regarding a potential £1.6 billion sale of its media and entertainment division. Such a deal would reshape the UK broadcasting landscape, positioning Sky as the nation's largest commercial broadcaster.
The talks, first reported by Bloomberg and subsequently confirmed by ITV to the London Stock Exchange, centre on a valuation of approximately £1.6 billion for the division, which includes debts. This arm encompasses ITV's terrestrial television channels and its streaming service, ITVX. The news sent ITV shares higher on Friday.
